All posts tagged Commerical Bank of Syria

Treasury said Syria International Islamic Bank allowed the Commercial Bank of Syria and Syrian Lebanese Commercial Bank—already subject to U.S. sanctions—to circumvent the measures against it imposed by the U.S., European Union and Arab League.

The measure, which includes an asset freeze, will be official Friday when it is published in the EU’s Official Journal. The EU statement did not name the target, but several diplomats told Newswires it would be the Commercial Bank of Syria, which is state-owned.

The measure targeted Commercial Bank of Syria for providing financial services to institutions in Syria and North Korea sanctioned by the U.S. for proliferating weapons of mass destruction. Also targeted was Syriatel, Syria’s largest mobile phone operator.

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